W.Va. PSC approves Frontier reimbursements for upgrades
CHARLESTON -- Frontier Communications will be reimbursed more than $29 million that it spent to improve its landline network and expand broadband access in West Virginia.
The West Virginia Public Service Commission approved the reimbursements last week.
The money will come from two escrow accounts established in 2010 as part of Frontier's acquisition of Verizon's markets in the state.
Frontier will receive $23.7 million in reimbursement from one escrow account for landline network improvements. The other account will provide $5.4 million in reimbursement for broadband projects.
Frontier senior vice president and general manager Dana Waldo said Thursday that the company has expanded its broadband network from 62 percent of households to more than 83 percent.
McDonald's sales drop for first time since 2003
NEW YORK -- McDonald's Corp. is having a tough time stomaching the competition.
The world's biggest hamburger chain said Thursday that a key sales figure fell for the first time in nearly a decade in October, as it faced the double whammy of a challenging economy abroad and intensifying competition at home. The company, based in Oak Brook, Ill., says global revenue at restaurants open at least 13 months fell 1.8 percent for the month. The last time it dropped was in March 2003.
McDonald's says the figure fell in each of the three regions it reports. In both the U.S. and Europe, it fell 2.2 percent. In the region encompassing Asia, the Middle East and Africa, it dropped 2.4 percent. CEO Don Thompson cited the "pervasive challenges of today's global marketplace" for the declines.
Wendy's sales climb amid transformation push
NEW YORK -- Wendy's push to remake itself as a higher-end hamburger chain is starting to pay off, with a key sales figure rising for the sixth straight quarter.
The company, based in Dublin, Ohio, is trying to pull away from the image of the typical fast-food chain and cast itself as a purveyor of higher-quality burgers and sides. The move reflects the growing popularity of chains such as Chipotle and Panera, which offer better quality food for slightly higher prices.
In the latest quarter, Wendy's said premium food offerings -- such as the Son of Baconator and the Asiago Ranch chicken sandwich -- helped lift revenue by 2.7 percent at restaurants open at least 15 months.
Kohl's donates $1M to Red Cross
BARBOURSVILLE -- Kohl's Department Stores has donated $1 million to the American Red Cross for Hurricane Sandy relief efforts along the East Coast.
The department store also is planning holiday charity efforts, including picking up the tab for one daily winner in every store Nov. 23 through Dec. 24. Also, for every new person who "Likes" Kohl's Facebook page from Nov. 23 to Dec. 24, Kohl's will donate $1 to Toys for Tots, up to $500,000.